Bitcoin’s price surpassed its all-time high on Wednesday morning (EST), hitting $ 20,800. At the time of publication, the crypto asset is up more than 6% in the last 24 hours with a market cap of a whopping $ 380 billion.
- Bitcoin topped out in two weeks on Wednesday, December 16, 2020, hitting $ 20,800 per coin. The price smashed its previous all-time high (ATH), set on December 1, 2020, to $ 19,920.
- After hitting ATH Wednesday, almost 100% of everything BTC in circulation is in a profitable state. Currently there are 18.5 million BTC in circulation, giving the crypto asset a cumulative market valuation of more than $ 380 billion.
- Bitcoin’s hashrate is also rising pretty high on Wednesday, at 142.44 exahash per second (EH / s) processing blocks today. There are a total of 19 mining pools that hashrate to the BTC chain on Wednesday.
- “Bitcoin breaking the $ 20,000 barrier is an important milestone,” Marcus Swanepoel, Luno CEO, explained Wednesday. But as with any record-breaking event, it begs the question: what next? In a year of economic uncertainty, bitcoin has not faltered, outperforming gold and other stocks and stocks, so a further rise in 2021 is definitely on the program. “
- Scott Freeman, Co-Founder and Partner at JST Capital, explained what many expected from his clients BTC to break the record.
- “Many of our clients expected Bitcoin to surpass its all-time high of $ 20,000, given the recent news from major institutional players such as SGX and Mass Mutual openly endorsing bitcoin,” Freeman wrote on Wednesday. “While this is an important milestone for this emerging asset class, as retail, institutional and blue-chip investors alike are allocating more capital to this space, it wouldn’t be surprising to see other currencies follow suit. BTC“to follow in the footsteps and to continue this upward trajectory in 2021,” added the JST Capital co-founder.
- Yoni Assia, CEO and co-founder of Etoro told news.Bitcoin.com that “$ 20,000 is undoubtedly a momentous milestone for bitcoin.”
- “While it’s easy to focus on the short-term price gains, which are making headlines and worthy of attention, it’s also important to recognize how far bitcoin has come,” Etoro’s Assia added.
- Ayush Ansal, CEO of the hedge fund, Crimson Black Capital, explained that “public interest in cryptocurrencies will resurface over the Christmas season as people start to believe in Bitcoin all over again.”
- “Having been in a wasteland since the infamous bull run of late 2017, crypto, and especially Bitcoin, are back,” added Ansal. “The Covid-19 pandemic has almost certainly contributed to Bitcoin’s recovery. It has changed the course of things and that resonates with many investors right now. “
- At the time of publication, bitcoin (BTC) trades for $ 20,650 after reaching the $ 20,800 high on the Bitstamp. Cryptocurrency advocates and analysts are now waiting to see what happens next and whether the crypto asset will continue to perform in this way in 2021.
What do you think about bitcoin hitting a record price on Wednesday December 16, 2020? Let us know what you think about this topic in the comments below.
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